Forbes' best states for business: Where Colorado ranks (Slideshow)

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Mark Harden | Denver Business Journal

Colorado may not have landed the No. 1 spot, but it's pretty high up among the top 10 states for business.

Mark Harden

News Director- Denver Business Journal

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Colorado is the nation's fifth-best state for business and careers, Forbes magazine declared in its latest, annual ranking, released Wednesday.

Colorado also took fifth place in Forbes' 2012 and 2013 rankings.

The ranking is based on business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life, among other metrics.

Forbes calls Colorado "the only state in the top seven that is not a right-to-work state. Credit an educated labor supply and a migrating population attracted to the state's robust economy and outdoor recreational opportunities."

It notes that the state's adults "at 38 percent, Colorado adults have the second highest level of college attainment, behind only Massachusetts."

Broken down by category, Colorado ranks No. 1 among the states for labor supply, No. 4 for growth prospects, No. 8 for economic climate, No. 9 for quality of life and No. 13 for regulatory environment.

Its lowest ranking (and its only below-average rating) is No. 35 for business costs.

• Click on the image at upper right for a slideshow of the 10 best states for business.

> Click here for Forbes full report on the best states for business.

> And click here for the 50-state ranking.

Mark Harden directs print and digital news content for the Denver Business Journal, contributes to the "17th & Lincoln" blog and compiles the daily "Afternoon Edition" email. Email: mharden@bizjournals.com. Phone: 303-803-9227.